1 year ago this week

1 year ago was 1 year after global financial markets were in the midst of utter turmoil.  How did we see the world a year ago?  Not too different really from the way we saw it the year before or see it now.

We were still ranting about the hopeless mainstream media, and we were trying alleviate fears of the ridiculous notion of reserve bank NATIONALISATION!!!

We argued, as we have done elsewhere, that the state needs a lesson in humility and that perhaps outright failure of basic services would be a good place to start the lesson.  We were, and still are, “Bullish on Turmoil” in China, and, speaking of a whole heap of malinvestment, we also lamented the big waste of money boondoggle that the FIFA world cup was to be.

Of course, bank economists didn’t view anything the way we did last year, which pretty much assured us we were on the right track!